The IRS and Penalty & Interest Abatement

With an abatement, you may be able to eliminate part or all of your penalties and interest. To qualify for abatement, you must show the IRS that you acted reasonably and in good faith. The IRS has granted abatements where taxpayer’s actions were due to one of the following actions out of the taxpayer’s control: major family problems that you can prove, such as a divorce; serious illness of yourself or a family member; death of a family member; reasons beyond your control that caused the inability to determine tax such as theft or destruction of your records; natural disaster; or incarceration.

Generally, a request for abatement can be made by completing Form 843 and sending it to the IRS. Retaining an experienced tax attorney to make the request on your behalf will give you the best chance of obtaining an abatement of penalties and interest imposed against you.

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